BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which 3 factors to consider when pricing a product to attract and retain customers?-3 answers to select
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Income levels of target customers
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Price of competitor products
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Layout of the store
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Cost of product
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Explanation:
Detailed explanation-1: -Three important factors are whether the buyers perceive the product offers value, how many buyers there are, and how sensitive they are to changes in price.
Detailed explanation-2: -The main determinants that affect the price are: Product Cost. The Utility and Demand. The extent of Competition in the market.
Detailed explanation-3: -Some of the more common pricing objectives are: maximize long-run profit. maximize short-run profit. increase sales volume (quantity)
There is 1 question to complete.